Roku Inc Expects Q3 Total Net Revenue Of $835M-$875M (Vs Prior $815M) Vs $829.19M Est After Sharing Workforce Reduction Plans
Portfolio Pulse from Benzinga Newsdesk
Roku Inc has revised its Q3 total net revenue forecast to $835M-$875M, up from the previous estimate of $815M, and above the estimated $829.19M. This comes after the company announced plans for workforce reduction. However, the company expects its total gross profit and net income to be impacted by restructuring and impairment charges, with an adjusted EBITDA in the range of negative $40M to negative $20M.
September 06, 2023 | 10:14 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Roku's revised Q3 revenue forecast is higher than the previous estimate and the market expectation, which could be positively received by investors. However, the expected negative impact on gross profit and net income due to restructuring and impairment charges could offset this positive sentiment.
Roku's upward revision of its Q3 revenue forecast could be seen as a positive sign by investors, potentially leading to a short-term increase in the stock price. However, the announcement of restructuring and impairment charges, which are expected to negatively impact the company's gross profit and net income, could dampen this positive sentiment. Therefore, the net impact on the stock price in the short term is uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100